Matching trading strategies with unusual market conditions can yield extreme profits. This trading system attempts to capture instruments that are going through a hyperactive impulsive phase. Buy using Renko levels from the Daily timeframe I present a profitable trading system, give it a Traderโ€™s Landing Score, and share 6 optimization tips to make this complete strategy more effective.

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โฑ๏ธ Timestamps โ€‹โ€‹โฑ๏ธ
00:00 – Start
00:39 – Indicators
02:21 – Long Examples
03:06 – Short Examples
04:44 – Testing Results & Equity Curve
06:08 – Traderโ€™s Landing Score
06:28 – Optimization

โš™๏ธ System Specifics โš™๏ธ
๐Ÿ“› System Name: Renko Flow
๐Ÿ† Traderโ€™s Landing Score: 8
๐ŸŽน Instrument: Bitcoin / Ethereum (BTC/ETH)
โŒ› Time Frame: 1-Hour (H1)

๐Ÿ‘€ TradingView Indicators
Name: Renko Levels
Inputs: Default
Style: Remove both shapes, SMA, SMACurTF
By: mongolor
Link: https://www.tradingview.com/v/YcKMhRqI/

โ˜๏ธ Long Entry

  1. Two bullish Renko levels appear.
  2. Price closes above the 2nd Renko level.
  3. Enter on close of the candle.
  4. Open two positions.
    4a. Stop at 1 Renko level below targeting 1:2.
    4b Stop at 2 Renko levels below targeting 1:2.

๐Ÿ‘‡ Short Entry

  1. Two bearish Renko levels appear.
  2. Price closes above the 2nd Renko level.
  3. Enter on clos of the candle.
  4. Open two positions.
  5. Stop at 1 Renko level below targeting 1:2.
    4b. Stop at 2 Renko levels below targeting 1:2.

๐Ÿ”ฅ Risk to Reward: 1:2

๐Ÿ›‘ Where to place stop-loss:
For Longs: 1 Renko level below for half the position, 2 Renko levels below for the other half.
For Shorts: 1 Renko level above for half the position, 2 Renko levels below for the other half.
๐Ÿš€ Where to take profits: 1:2